Report: Bulls Offered DeMar DeRozan 2-Year Extension

According to NBA insider K.C. Johnson of NBC Sports Chicago, the Chicago Bulls offered DeMar DeRozan a two-year extension. 

DeRozan becomes an unrestricted free agent this summer if he doesn’t sign an extension with the Bulls before free agency starts. 

“A source said the Bulls recently offered DeRozan’s representative a two-year deal at a high annual salary, perhaps as much as $40 million per season,” Johnson wrote. “For now, DeRozan is seeking a longer-term deal, but that merely be part of negotiations.”

DeRozan appeared in 79 games for the Bulls this season. The six-time All-Star averaged 24.0 points, 4.3 rebounds and 5.3 assists while shooting 48.0% from the field, 33.3% from beyond the arc and 85.3% from the free-throw line. 

The Bulls beat the Atlanta Hawks in the 9-10 play-in game but lost to the Miami Heat in the 8-9 play-in game. 

Chicago has missed the playoffs two years in a row. 

“DeMar’s been great for us for three years,” Bulls executive vice president of basketball operations Artūras Karnišovas said. “He’s been invested in the city of Chicago and has been really great to our young guys. So both sides are interested in continuing and we’ll see what happens in free agency.”

DeRozan signed a three-year, $85 million contract with the Bulls in August 2021 as part of a sign-and-trade deal with the San Antonio Spurs. 

The Los Angeles Lakers, Miami Heat and Philadelphia 76ers were interested in acquiring DeRozan this season, sources told Hoops Wire. However, the Bulls weren’t shopping DeRozan, who will draw suitors if he hits unrestricted free agency this offseason. 

DeRozan has career averages of 21.2 points, 4.4 rebounds and 4.1 assists with the Toronto Raptors, Spurs and Bulls. He has made three All-NBA teams.

The Bulls are 117-112 with DeRozan in the lineup. They made the playoffs in 2022, losing to the Milwaukee Bucks in the first round in five games.